Targa Resources Partners LP announced today the following expansion plans for its natural gas gathering and processing capabilities in the Permian and Williston Basins.
The Partnership has also approved the purchase of a 200 MMcf/d cryogenic processing plant to be located in McKenzie County, North Dakota in the Williston Basin.
This new gas processing capability, combined with the current 40 MMcf/d expansion expected to be operational at the end of 2014, will increase the Partnership's effective processing capacity when all facilities are debottlenecked up to approximately 300 MMcf/d over time to support the continued success of producers in the Bakken and Three Forks Shale plays.
The additional Badlands plant is expected to be operational as early as the end of 2015.200 mmcfpd is twice the "standard" ONEOK facility in North Dakota, and comparable to the Hess Tioga plant.
New scrabble word: "debottlenecked." Look that up in your Funk and Wagnalls -- a few pages before "fracking." LOL.
At the top it was noted that Targa announced projects in both the Permian and the Bakken.
BakkenShale.com is reporting:
The Permian Basin is the oil rig capital of the U.S.
The Permian Basin, which is located in Western Texas and southern New Mexico, is the leader of oil production in the U.S. Currently, the U.S. is home to 1,591 oil rigs, the majority of those rigs, roughly 554, are located in the Permian Basin. Some of the remaining rigs are located in Eagle Ford formation which has 202 oil rigs, Bakken having 198 and the Mississippian with 74. Just in the year 2014 the Permian Basin has added 95 oil rigs in comparison to Bakken adding 13 and Eagle Ford losing four.
Horizontal rigs account for 58 percent, 38 percent are vertical rigs and the last four percent are directional oil rigs.